Are you considering moving to Georgia?
From the thriving cities, beautiful countryside location, beaches and mountains, it’s easy to see why over 10 million people call it home.
But before you move to a town in Georgia such as Atlanta or Savannah, you might want to know how much the average salary in Georgia is and the cost of living.
So, can you afford to live in Georgia?
We answer all of these questions and more to help you decide whether Georgia is right for you.
Average salary in Georgia
When you’re looking for a new job title, salary is important.
According to the latest data, the average annual pay of employees in Georgia in 2021 was $37,050.
That works out at an hourly rate of $19.
Salaries in Georgia will also depend on which city you live in. For example, people that live in Atlanta ga can expect to earn an average of $75, 453 whilst Roswell inhabitants will make an average of $44,576.
Average salary jobs in Georgia
Now that we know the average wages, let’s look at what jobs and companies in Georgia pay a minimum of $37k. The good news is that there is a wide variety of job titles available to choose from with different educational requirements such as a high school diploma. Examples include:
· Kindergarten teacher
· Admissions Coordinator
· Junior copywriter
· Junior accountant
· Property manager
· Project Coordinator
· Head chef
· Sales and marketing manager
The office admin and production sectors are popular industries to work in that pay the average salary in Georgia.
What is the cost of living in Georgia?
The good news is that Georgia is considered a highly affordable state to live in. According to MERIC data, it’s the fifth-lowest cost state to live in.
The average size house will cost you approximately $306k in Georgia, which is considerably lower than the house prices in Atlanta.
If you are looking for rented accommodation, on average a three bedroom property will be approximately $1,102 per month. Depending on the current interest rates, your deposit and credit history, the median monthly mortgage cost in Georgia is $1,417.
So, how much will you have to spend on food in Georgia?
Obviously, the exact amount you need to budget for your groceries will depend on the size of your family and which part of Georgia you live in, but a gallon of milk will cost you between $1.38 – $3.87.
Your food bill is one of the biggest expenses that you will need to budget for, especially with rising food costs. Keep your food costs low with these smart grocery shopping tips.
· Sign up for supermarket loyalty programs for discounts and coupons.
· Always go to a grocery store with a list and stick to it.
· Bulk buy items such as pasta and toilet paper.
· Purchase store-branded goods rather than big brands
· Never shop on an empty tummy.
Whether it’s commuting to the office or taking your kids to baseball practice, you’ll need a mode of transport to get you around in Georgia.
The MARTA bus and underground systems are reasonably inexpensive transport options if you don’t own a car.
Average gas prices are currently $3.179 for regular and $4.889 for diesel.
Most people in America have health insurance, and Georgia is no different. Health insurance stops you from having to pay a lot of money to doctors or hospitals if you get sick or hurt. Every time you get medical care, someone has to pay for it. The U.S government does not provide health benefits.
The average health insurance premium in Georgia is $394 per month. This is based on somebody who is 40 years old with a silver care package. If you’re younger the premium will be less, if you’re older it will be more.
The cost of child care is a necessary expense for most parents that can take up a huge proportion of your monthly budget.
For example, classroom care is generally more affordable than if you use home-based family child care.
The average childcare costs in Georgia are:
Infant classroom – $1,013 per child per month
Toddler classroom – $781 per child per month
Home-based childcare – $1,091 per child per month
Here are some handy tips for saving money on childcare:
Consider nanny sharing – split the costs of childcare with another family and share a nanny. For example, if you only need childcare three days a week, find a family that needs the other two days so you save money on the days that you don’t need the nanny.
Ask for discounts – some childcare centers offer discounts such as sibling discounts, so you get a reduced rate for additional children that are enrolled.
Use employer schemes – ask if your employer has any childcare programs such as discount schemes or onsite care.
Reduce your full time hours – sometimes it will save you money to work fewer hours so that you can stay home with your children and reduce your childcare bill.
Paying taxes in Georgia
As with any other state, you’ll need to file a tax return when you surpass a certain level of income. Remember to include all of your income from other sources such as rental properties and investments.
Georgia has a 4% state sales tax rate, a local sales tax rate of 4.90% and an average combined state and local sales tax rate of 7.35%.
Things you might not know about Georgia
1. Georgia is the youngest of the 13 states that originally formed the United States.
2. Georgia is the home to Martin Luther King, Jr and was the headquarters for the civil rights movement.
3. The cotton gin was invented in Georgia by Eli Whitney in 1793. The machine pulls cotton fibers from the cotton seed to help ease the burden on the workers.
4. Savannah, Augusta, Louisville, Milledgeville and Atlanta have all been the capital cities of Georgia.
5. Did you know that you could fit Georgia into Alaska 11 times?
Living in Georgia
Georgia has quite a lot to offer its residents. The state has reasonable home prices and general living costs. Your individual cost of living will depend on which part of the city you choose to live in.
When moving to a new area you should get your finances in order first and budget effectively because it can be a costly endeavor, especially with the new cost of living. Check out the latest financial advice on The Finances Hub blog.